The Conference Board's index of leading economic indicators for the United Kingdom fell for the third consecutive month in May, the most recent month for which data are available. The index now stands at 132.7 (1990=100).
The leading index declined seven-tenths of a percentage point in May, four-tenths in April and two-tenths of a percentage point in March, the New York-based business research group reports. For the six months through May, the leading index declined six-tenths of a percent.
During the first three months of this year, inflation-adjusted GDP growth in the UK slowed to an annual rate of 1.5%, and "the mild weakness in the leading index in recent months is consistent with continued sluggish growth in the near term," says the Conference Board.